Global Bio-energy Research Report: By Product Type (Solid Biomass, Liquid Bio-fuel, Biogas, Others), By Feedstock (Agricultural Waste, Wood Waste, Solid Waste, Others), By Technology (Combustion, Gasification, Fast Pyrolysis, Fermentation, Anaerobic Digestion), By Application (Power Generation, Heat Generation, Transportation) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle-East and Africa) Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2023-2031.
Global bio-energy is predicted to reach approximately USD 263 billion by 2031, at a CAGR of 6.52% from 2023 to 2031. The global bio-energy market refers to the market of renewable energy that is produced when biomass fuel is burned. Biomass fuels are made from organic materials including harvest residues, specially produced crops, and organic waste from our homes, businesses, and farms. Bio-energy is a low-carbon renewable energy source that can be used in place of carbon-intensive fossil fuels. Biomass fuels can be used in situations where there are limited renewable energy sources, such as fuel for airplanes, ships, and vehicles. The market is driven by the increase in demand for energy produced by bio-based fuels and government initiatives to reduce carbon emitting fossil fuel emissions.
Global bio-energy report scope and segmentation
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Report Attribute |
Details |
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Estimated Market Value (2022) |
USD 140 billion |
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Projected Market Value (2031) |
USD 263 billion |
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Base Year |
2022 |
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Forecast Years |
2023 – 2031 |
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Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Based on By Product Type, By Feedstock, By Technology, By Application & By Region. |
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Segments Covered |
By Product Type, By Feedstock, By Technology, By Application & By Region. |
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Forecast Units |
Value (USD Billion or Million), and Volume (Units) |
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Quantitative Units |
Revenue in USD million/billion and CAGR from 2023 to 2031. |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. |
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Countries Covered |
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others. |
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Report Coverage |
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis. |
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Delivery Format |
Delivered as an attached PDF and Excel through email, according to the purchase option. |
Global bio-energy dynamics
The market dynamics of bio-energy are influenced by several factors. The increasing demand for energy produced by bio-based fuels and government initiatives to reduce carbon emitting fossil fuel emissions. However, high initial investment to build and manage a bio-energy facilities act as restraints. Opportunities arise from the rising demand of power generation from renewable energy sources and use of bio-fuels in vehicles. The nature of competition is intense, with various companies involved in the production, distribution and sales of products. As the market evolves and consumer demand continues to rise, the dynamics of the bio-energy market are expected to remain dynamic and highly competitive.
Global bio-energy drivers
The increase in demand for energy produced by bio-based fuels is one of the major drivers in the global bio-energy market. Bio-based fuels are regarded more environmentally benign than fossil fuels because, when properly managed and produced responsibly, they can dramatically cut carbon emissions. Bio-energy can improve energy security by diversifying the energy mix and decreasing reliance on fossil fuels, which are frequently vulnerable to price fluctuation and geopolitical uncertainty. Bio-energy plays an important part in countries efforts to transition to cleaner and more sustainable energy sources driving the market’s growth. Thus, the rising demand for energy produced by bio-based fuels is driving the global bio-energy during the forecast period.
The government initiative to reduce carbon-emitting fossil fuel emissions is one of the major drivers in the global bio-energy market. Governments all across the world are taking a range of steps to minimize carbon-emitting fossil fuel pollution. One of the most important measures is to encourage the use of renewable energy sources like bio-energy. Bio-energy is energy obtained from biomass, which is organic matter found in plants and animals. Bio-energy can produce power, heat, and transportation fuels. Bio-energy is a renewable energy source since it may be created from sustainably cultivated biomass. Thus, the government initiatives to reduce carbon emitting fossil fuel emission are driving the growth of the global bio-energy market during the forecast period.
Restraints
The global bio-energy market faces a restraint in the form of high initial investment. The large initial investment necessary to build and manage bio-energy facilities is a major impediment to the global bio-energy market expansion. The cost of bio-energy facilities varies based on the technology utilized, the size of the facility, and its location. Bio-energy facilities, on the other hand, are often more expensive to create and run than fossil fuel-based facilities. Understanding the cost of investment and the technology required to establish a bio-energy facilities will be useful for the expansion of the bio-energy market. Thus, the high initial investment act as a major restraint in the global bio-energy market during the forecast period.
Opportunities
The global bio-energy market presents significant opportunities driven by the rising demand from commercial fleets. Bio-energy can be used in a variety of ways to generate electricity, including combustion, gasification, and anaerobic digestion. Bio-energy power plants can produce base-load, mid-merit, and peak power. Bio-energy power generation has several advantages over other renewable energy sources (RES) such as solar and wind power. Bio-energy power plants can generate electricity on demand since they are dispatchable. This makes them useful for grid balancing and backup power when other RES are unavailable. The growing adoption of bio-energy for power generation from renewable sources creates an opportunity in the global bio-energy market during the forecast period.
Segment overview
By product type
The market for bio-energy is segmented based on product type into four categories: Solid biomass, liquid bio-fuel, biogas and others. Solid biomass dominates the market segment due to its usage in variety of purposes such as power generation, heat generation, and industrial applications. Wood, wood waste, agricultural waste, and municipal solid waste are all examples of solid biomass. Ethanol, biodiesel, and bio-jet fuel are examples of liquid bio-fuels. Vehicles and aircraft can run on liquid bio-fuels. Biogas is a methane and carbon dioxide combination created by anaerobic digestion of biomass. Biogas can be converted into power, heat, and transportation fuels. Other bio-energy products include bio-char, bio-oil, and bio-chemicals. Bio-char can be used to increase soil fertility while decreasing greenhouse gas emissions. Bio-oil can be used to create electricity or to fuel vehicles. Bio-chemicals can be used to manufacture a wide range of goods, including polymers, medicines, and food additives. This segmentation allows consumers to choose the product type that best suits their specific needs, preferences.
By technology
The bio-energy market is categorized based on technology types: combustion, gasification, fast pyrolysis, and anaerobic digestion. Combustion technology segment dominates the market due to its simple and inexpensive technology. The most frequent bio-energy technology is combustion. It entails burning biomass to produce heat or power. Although combustion technologies are very basic and mature, they can be inefficient and pollute the air. Gasification is the process of converting biomass into a synthetic gas known as syngas. Syngas can be converted into power, heat, or transportation fuel. Gasification technologies are more efficient than combustion technologies and emit less pollutant into the atmosphere. Fast Pyrolysis is a process that converts biomass into bio-oil, bio-char, and syngas. Anaerobic digestion is a process that breaks down biomass in the absence of oxygen to produce biogas. This segmentation allows consumers to choose the technology of bio-energy that aligns with their specific needs and preferences.
Global bio-energy overview by region
Europe
Europe currently dominates the bio-energy market, and this dominance is expected to continue in the future. The increasing demand for renewable energy, the rising cost of fossil fuels as energy prices in Europe are relatively high which makes bio-energy more competitive. The government support to develop the use of the bio-energy by providing financial incentive is the factors that drive the Europe region market. Thus, with the increasing demand for bio-energy, Europe region is expected to dominate the market in the forecast period.
Asia Pacific
Asia Pacific is experiencing significant growth in the bio-energy market, with a significant compound annual growth rate (CAGR). The region's rapid economic growth, the rising energy prices, the abundant biomass resources and the government support are the factors driving the region market growth. Growing environmental awareness and the need to minimize greenhouse gas emissions are also driving the market growth. Thus, with the increasing demand for bio-energy market Asia Pacific is expected to witness a substantial CAGR in the coming years.
Global bio-energy competitive landscape
The competitive landscape of the market is marked by a wide array of players competing for market dominance. The bio-energy market is consolidating. This is owing to the increasing size of expenditure necessary to establish and operate bio-energy plants. The market's major players are acquiring smaller companies to increase their market share and acquire access to new technologies and resources. Government policies and regulations are also influencing the competitive environment of the bio-energy business. Subsidies and other incentives are being provided by governments all over the world to encourage the development of the bio-energy sector. This contributes to a more advantageous climate for market participants. As consumer demand for bio-energy continues to grow, the market is anticipated to witness even more intense competition among these players. The major players in the market are Orsted, Enerkem, Babcock & Wilcox Enterprises, Inc., Biomass Engineering Ltd, EnviTec Biogas AG, Pacific Bioenergy Corporation, Shell Plc, BP Plc, BTG Biomass, Technology Group, Fortum, MVV Energie AG, A2A SpA, Hitachi Zosen Corporation, Renewable Energy Group, Inc., and Mitsubishi Heavy Industries Ltd.
Global bio-energy recent developments
March 2023,
The European Union reached a provisional agreement between the Council and Parliament on the update of the Renewable Energy Directive (RED III). The agreement includes increasing sustainability criteria for the use of biomass for energy by employing the "cascading" approach while taking into account national priorities. In addition, the European Union established a target of 35 billion cubic meters of bio-methane production per year by 2030 in 2022.
December 2022,
The U.S. declared a considerable increase in funding through the Inflation Reduction Act, which allocates financial support for various stages of the bioenergy supply chain. This includes enhancing the utilization of sustainable biomass and waste materials in the U.S. for the production of sustainable aviation fuels, chemicals, and biomaterials, such as advanced fertilizers. Additionally, the Act aims to stimulate innovation in these industries, including technologies for conversion processes.
Scope of Global Bio-Energy Report
Global Bio-Energy Report Segmentation
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ATTRIBUTE |
DETAILS |
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By Product Type |
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By Feedstock |
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By Technology |
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By Application |
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By Geography |
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Customization Scope |
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Pricing |
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Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as mentioned below:
To identify and estimate the market size for global bio-energy market is segmented by product type, by feedstock, by technology, by application and by region. Also to understand the consumption/demand created by consumers between 2023 and 2031
Market Landscape and Trends:
To identify and infer the drivers, restraints, opportunities, and challenges for global bio-energy
To find out the factors which are affecting the market of global bio-energy among consumers.
To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
Research Methodology
Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region. The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.
Data Collection
Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.
Primary Research
After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market.
Secondary Research
A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.
Top-Down Approach & Bottom-Up Approach
In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.
In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.
This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.
Market Analysis & size Estimation
Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.
Quality Checking & Final Review
The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.
